The Dallas real estate market today is one of the best performing in the United States. The population and job market growth have contributed greatly to the strength of the local real estate market. Dallas has been seeing a rapid population growth over the past years; in fact, the city’s population has grown by about 10% in the last ten years. The city and the Dallas-Fort Worth Metro Area house around 8.3 million people, with a higher percentage of renters than owners. The growing population has in turn boosted demand for real estate, and created many construction initiatives. More and more Dallas investment properties are built every day.
Related: These Are the Best Neighborhoods for Dallas Real Estate Investment Properties
Moreover, the economy of Dallas is another strong driver of the strength of the real estate market. Although the oil industry has characterized and distinguished the Dallas economy from other cities’ economies, other industries continue to lead the economy as well including communications, technology, medicine, and education. Therefore, as more jobs are created, the demand for commercial space and consequently residential properties is increasing, and the need for construction to accommodate the growing economy is heightened.
Dallas understands its residents’ needs and is continuously urging the construction of varied investment opportunities to accommodate different types of real estate investors. In Dallas, you can certainly find ultra luxurious homes or opt out for a cozy condo in the center. No matter what your budget and preferences are, you will find a real estate property to suit your investment agenda and one with high return on investment.
In order to further assist you, we at Mashvisor have assessed the neighborhoods of Dallas and concluded on the top places for Dallas investment properties for real estate investors to further investigate. Below are the best neighborhoods with the best real estate investments in the Dallas real estate market.
Dallas Investment Properties in Oak Lawn
- Median Home Value: $320,000
- Median Rent: $1,300/month
Bounded by the City of Highland Park, the North Central Expressway, and Stemmons Freeway, Oak Lawn is a vibrant neighborhood and one known for its crazy and lively nightlife. The neighborhood, moreover, is known for Cedar Spring Road. Oak Lawn is one of the wealthier neighborhoods in the Dallas metro area with median home values exceeding those of others in surrounding areas. Because of the high prices of homes, about 63% of the Oak Lawn population continues to rent their property. If you own a real estate property in Oak Lawn and want to make money off of it, we encourage subdividing and renting out. If you don’t, then you should considering buying an investment property here.
Dallas Investment Properties in Coppell
- Median Home Value: $300,000
- Median Rent: $1,100/month
Located in the northwest of Dallas County, Coppell is a family friendly and safe neighborhood of the suburbs of Dallas. In 2017, Coppell was rated the second best neighborhood in Dallas to raise a family in. Although the median rent is relatively low as compared to other surrounding neighborhoods, about 71% of Coppell’s population of 40,000 owns their homes. The median household income of about $110,000/year, moreover, makes housing more affordable in the area. Coppell is, indeed, a great location to invest in this year, as it offers the best of Dallas investment properties.
Related: 4 Reasons to Invest in the Dallas Real Estate Market
Dallas Investment Properties in Allen
- Median Home Value: $220,000
- Median Rent: $1,300/month
Located in the northern suburb of Dallas, Allen is home to over 90,000 residents, with about 77% of the population owning their homes. This is so because of the low median home price of $220,000 as compared to other more expensive surrounding neighborhoods. People are choosing to settle down and own in this neighborhood for its affordability of housing, excellent quality of living, and astounding education opportunities. If you are looking for more affordable properties among Dallas investment properties, then we recommend further investing in Allen.
Dallas Investment Properties in University Park
- Median Home Value: $1,000,000
- Median Rent: $1,900/month
University Park is a neighborhood in the northern suburbs of Dallas County and is home to the Southern Methodist University. Known for its beautiful homes and churches, University Park remains one of the more affluent neighborhoods in Dallas. Despite the high prices of homes, about 77% of the population owns their homes. Families continue to invest in Dallas investment properties in University Park, particularly, for its abundant outdoor activities and excellent education. According to Niche, University Park in 2017 ranked the 3rd best neighborhood with the best public schools in Texas. If you want to raise a family and are keen on providing your children with excellent education, consider University Park. While home values are expensive, residents continue to choose to settle and invest in a property that will foresee appreciation. Thus, you should target this specific tenant pool as a real estate investor.
Dallas Investment Properties in Bluffview
- Median Home Value: $600,000
- Median Rent: $1,400/month
Bluffview is a luxurious neighborhood in north Dallas. The neighborhood is an ideal location for commuters who prefer to be in close proximity to downtown amenities but far enough from traffic and congestion. About 63% of the population of Bluffview has settled in and owns their homes. In Bluffview, expect to find a wide range of real estate properties from old and ancient renovated houses to modern condos and apartments. The neighborhood is certainly home to some of Dallas most desirable real estate properties. If you are looking for a high return on investment, we recommend that you further look into investment properties in Bluffview.
Dallas Investment Properties in Lake Highlands
- Median Home Value: $280,000
- Median Rent: $1,000/month
Lake Highlands constitutes the majority of eastern Dallas. About 55% of the population owns their homes. The majority of real estate properties are medium and small-sized family houses, with a growing percentage of high-rise apartments and apartment complexes. Lake Highlands enjoys good private education, making the neighborhood desirable for families keen on providing their children with private schooling. The neighborhood indeed enjoys a low cost of living compared to the quality of living one normally gets in other surrounding areas, which makes Lake Highlands one of the most desirable Dallas neighborhoods. The area makes for a good investment property strategy if you are a real estate investor looking to invest or trade in single-family housing.
Related: Top 5 Areas for Dallas Investment Properties
The strong economy and growing population and job market have urged many to relocate to Dallas. Whether you are a millennial, a senior professional, or a student, Dallas and its neighborhoods offer varied types of lifestyles to suit your needs. If you are looking into Dallas investment properties, we encourage that you plan a trip to get a more hands-on experience of the information we have provided to you today.
For more information about Dallas real estate and for finding the best Dallas investment properties, sign up for Mashvisor.